By V.V.Chari: http://democrats.science.house.gov/Media/file/Commdocs/hearings/2010/Oversight/20july/Chari_Testimony.pdf
"...as a society, we have devoted far too little by way of resources to modern macroeconomics. We have too few people working on modern macroeconomics, we have too few students and we devote too little in the way of other resources to this area.
I would argue that the United States devotes shamefully little to economic research. For example, the NSFs budget for economics is a pitiful $27 million out of which $2.6 million goes to the worthwhile activity of supporting the Panel Study on Income Dynamics. Twenty
ve million dollars for an activity that is deemed fundamentally important by the people of the United States? Out of that 25 million dollars, my best estimate is that only about 10 per cent goes to macroeconomics. Compare $2.5 million to an overall NSF budget of $6 billion or to the federal government support of basic research of roughly $30 billion."
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